Aumua and House Pass Bill to Help Vets Start a Business
Washington, D.C. – Tuesday, Congresswoman Aumua Amata, “During the committee mark up for this bill, I was proud to vote yes on the Veterans Entrepreneurship Act, that will remove one of the obstacles for our veterans who want to start a business,” said Amata. “We must make sure that our veterans are given every opportunity we can afford them to succeed following their service to the nation, which is exactly why I serve on both the Small Business and Veterans Affairs Committees,” stated Amata.
Congresswoman Aumua Amata and Chairman Chabot
Specifically, this bill amends the Small Business Act to prohibit the Administrator of the Small Business Administration (SBA) from collecting a guarantee fee in connection with a loan made under the SBA Express Program to a veteran or the spouse of a veteran on or after October 1, 2015, so long as the President’s budget submitted to Congress each year for the program does not exceed the zero cost tenet.
The Veterans Entrepreneurship Act easily passed the House of Representatives on Monday with only one member voting against the bill. The legislation will now move to the Senate for consideration.
“I want to thank Chairman Chabot for his leadership and insight on this issue. By removing the numerous fees and red tape that not only our veterans, but all Americans who want to start a business face, we can help restore our sluggish economy to one that is robust and stable. This bill will do exactly that,” concluded Amata.
# # #